Mitch Garber announced on Monday that he will be stepping down as chairman of the board of the Cirque du Soleil. This comes on the heels of an ownership change at the financially troubled circus company.
Last month, a group of creditors won control of the Montreal-based company. The creditors’ group represents holders of about $760 million in Cirque du Soleil debt. One of the main companies in the group is Toronto-based Catalyst Capital Group.
The previous shareholders — U.S. equity firm TPG, China’s Fosun International and the Caisse de dépot et du placement du Québec — were forced out by the deal. The three bought control of the Cirque in 2015 when founder Guy Laliberté sold most of his shares in the company for $1.5 billion…
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